43,974 Shares in Lemonade, Inc. (NYSE:LMND) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in Lemonade, Inc. (NYSE:LMND) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 43,974 shares of the company’s stock, valued at approximately $1,613,000. Raymond James Financial Inc. owned about 0.06% of Lemonade at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Lemonade by 2,627.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company’s stock valued at $49,494,000 after buying an additional 1,299,891 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Lemonade by 402.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company’s stock valued at $10,093,000 after acquiring an additional 220,399 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Lemonade during the fourth quarter worth $7,269,000. Vanguard Group Inc. grew its stake in shares of Lemonade by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 5,343,492 shares of the company’s stock worth $195,999,000 after purchasing an additional 134,776 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in Lemonade in the fourth quarter valued at $2,712,000. 80.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lemonade

In other Lemonade news, insider John Sheldon Peters sold 1,899 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total transaction of $64,167.21. Following the transaction, the insider now owns 87,609 shares in the company, valued at approximately $2,960,308.11. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Softbank Group Capital Ltd sold 204,575 shares of Lemonade stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $37.08, for a total transaction of $7,585,641.00. Following the transaction, the insider now owns 10,494,636 shares of the company’s stock, valued at $389,141,102.88. This represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,134 shares of company stock valued at $9,234,003 in the last 90 days. 12.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LMND has been the topic of several recent research reports. Morgan Stanley downgraded Lemonade from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $35.00 to $24.00 in a report on Tuesday, April 8th. Piper Sandler cut their price objective on Lemonade from $44.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Lemonade from $25.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.17.

Lemonade Stock Performance

Shares of LMND stock opened at $30.00 on Friday. Lemonade, Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $53.85. The stock has a 50 day simple moving average of $31.32 and a two-hundred day simple moving average of $33.71. The company has a market cap of $2.20 billion, a P/E ratio of -9.87 and a beta of 2.13.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.19. The company had revenue of $148.80 million during the quarter, compared to analyst estimates of $144.78 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. On average, research analysts predict that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Lemonade Company Profile

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.